UP World LNG Shipping Index Shows Signs Of Decline


The UP World LNG Shipping Index (UPI) declined by 1.28 points or 0.83% last week, reaching a closing value of 152.45 points. This index monitors the stocks of companies that specialize in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, gained 0.4%. The image below displays both indices.

Decline Registered

UPI has continued to decline, dropping by the same percentage as last week. This is not a significant or trend-setting move; rather, UPI has slid down on lower traded volume. However, UPI has broken the lowest value of this year. The movement of constituents was lower than two percent, and only a few marked more vigorous movements. The off-season continues with lower traded stock volumes.

Despite Nakilat (QSE: QGTS) losing 3.6% and returning to the starting support area above February’s gap, the three new trends continue. This level still shows a positive perception of investors.

Lower Traded Volume 

The Japanese trio continued to drop, and all three companies had a dividend ex-day. “K” Line (TSE: 9107) declined by 4.5%, NYK Line (TSE: 9101) dropped by 4.1%, and Mitsui O.S.K. Lines (TSE: 9104) lost 2.2%.

The gas and oil drilling trio showed mixed results. Chevron (NYSE: CVX) rose above the resistance and completed the week with a gain of 2%. Shell (NYSE: SHEL) and BP (NYSE: BP) paused, adding 0.2% and losing 0.3%, respectively.

Exmar NV (BSE: EXM) and Dynagas LNG Partners (NYSE: DLNG) were the top gainers. Exmar gained 6.7%, and Dynagas rose by 5.4%. The rest of the movements were lower than two percent.

In summary, UPI continues sliding down back to the 2023 area. Lower traded volume supported this slide.

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Source: LNGshippingstocks